Disposal of CWIO, Confetti and IWOOT

12th August 2010

FINDEL PLC ("FINDEL" OR "THE GROUP")

SALE OF IWOOT AND CONFETTI TO Metro Holdings Limited

Findel, a leading group in home shopping and the distribution of educational and medical supplies, today announces the sale of its wholly owned subsidiaries CWIO Limited ("CWIO", formerly Findel Direct Limited), Confetti Network Limited and I Want One of Those.com Limited to Metro Holdings Limited, a wholly owned subsidiary of The Hut Group. Findel will receive total cash consideration of £600,000 on completion of the transaction subject to a post-completion adjustment to reflect the aggregate net cash position of CWIO, Confetti and IWOOT at completion, which is not expected to be significant.

CWIO's operations comprise iwantoneofthose.com ("IWOOT") and Confetti. IWOOT is the UK's leading online retailer of gadgets, gifts, toys and games. Confetti is recognised as a leading wedding brand in the UK and is a leading multi channel retailer and media content provider in the bridal arena.

In its accounts for the period ended 2 April 2010, CWIO reported an operating loss from continuing operations of £3.6 million and a statutory pre-tax loss of £13.8 million. As at 2 April 2010 CWIO had gross assets of £5.7 million and net liabilities of £19.3 million. The Board has already written down the carrying value of tangible and intangible assets associated with these businesses in the accounts in the year to 2 April 2010.

The sale of CWIO, which follows the sale of Webb Group Limited, forms part of the Board's previously stated strategy to exit non-core and loss-making operations.

Net proceeds from the sale of CWIO will be applied to reduction of Findel's net debt, which stood at £309.6m as at 2 April 2010.

The Group's management will now focus its full attention on its core businesses and delivery of the Full Potential Review of the Group's continuing operations.

For further information:

Findel

David Sugden, Chairman T: +44 (0) 1254 352 026

Philip Maudsley, Chief Executive c/o: +44 (0) 20 7269 7227

Tim Kowalski, Finance Director

Financial Dynamics T: +44 (0) 20 7831 3113

Jonathan Brill

Billy Clegg

Caroline Stewart